Who is profiting? Companies and people who buy up tax delinquent properties and then basically get their money back, with interest.
– A little known property tax loophole is costing Cook County taxpayers hundreds of millions of dollars.
Cook County Treasurer Maria Pappas said one mall in Calumet City is just one of hundreds of properties helping so-called tax buyers get rich. The mall, like others, was put up in Cook County's tax sale because the owner was behind on paying property taxes. "But 87% of that $280 million was taken from mostly Black and Latino areas of the city, but predominantly the south suburbs," said Hal Dardick, a researcher with the Cook County Treasurer's Office."They got hit really bad."
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